NEW YORK, Aug. 27, 2020 /PRNewswire/ -- Halper Sadeh LLP, a global investor rights law firm, is investigating whether Broadway Financial Corporation (NASDAQ: BYFC) and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders in connection with Broadway Financial's proposed merger with CFBanc Corporation.
Under the terms of the merger agreement, CFBanc common shareholders will receive 13.626 shares of Broadway Financial common stock for each share of CFBanc common stock they own, resulting in Broadway Financial stockholders owning 52.5% and CFBanc shareholders owning 47.5% of the combined institution. The merger is subject to, among other things, approval by Broadway Financial shareholders.
If you are a Broadway Financial shareholder and would like to discuss your legal rights and options, please visit https://halpersadeh.com/actions/broadway-financial-corporation-byfc-stock-merger-cfbanc/ or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or email@example.com or firstname.lastname@example.org.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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SOURCE Halper Sadeh LLP